10-9-2024 (BANGKOK) MR. D.I.Y. Holding (Thailand), the rapidly expanding home improvement and lifestyle retailer, has taken a significant step towards public trading by submitting its initial public offering (IPO) application to the Securities and Exchange Commission (SEC). This move marks a pivotal moment in the company’s eight-year journey in the Thai market, signalling its readiness to enter a new phase of growth and expansion.
The company has enlisted the expertise of Bualuang Securities Plc and CIMB Thai Bank Plc as financial advisors to navigate the complexities of listing on the Stock Exchange of Thailand. This strategic decision comes on the heels of impressive growth figures that have seen MR. D.I.Y. dramatically increase its footprint across the kingdom.
Chief Executive Chin Guangui highlighted the company’s remarkable trajectory, stating, “Our expansion has been nothing short of extraordinary. We’ve added 463 new stores over the past three years, achieving a compound annual growth rate of 36.3% from 2021 to 2023.” This aggressive expansion strategy has propelled MR. D.I.Y. from a single store in 2016 to a network of 802 outlets spanning 74 provinces, serving over 77 million customers in 2023 alone and employing more than 9,700 staff as of June 2024.
Despite holding a respectable 7.4% market share in the general home improvement and lifestyle segment, according to Frost & Sullivan research, MR. D.I.Y. sees ample room for growth. Chin elaborated on the company’s forward-looking strategy, emphasising plans to diversify product offerings, enhance customer experiences, and further expand the store network. He also underscored the company’s commitment to sustainable growth and community impact through job creation and partnerships with local manufacturers and suppliers.
Pichet Sithi-Amnuai, President of Bualuang Securities, provided details on the IPO structure, revealing that MR. D.I.Y. plans to offer up to 981,482,654 shares, representing approximately 16.3% of the company’s total issued and paid-up ordinary shares post-offering. The company currently boasts a registered capital of 3.03 billion baht, with 2.79 billion baht paid up.
CIMB Thai Bank’s Senior Executive Vice-President, Konthee Prasertwongse, outlined the objectives behind the listing, stating that the funds raised will be allocated towards business development and expansion, debt repayment, and working capital enhancement.
